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Market Report

Thursday, 10-Oct-2013

NSE

  • The 30-share S&P BSE Sensex, which gained 354 points in the previous two sessions, traded between 20,135.91 and 20,323.77 before ending at 20,272.91 today, advancing 23.65 points, or +0.12 per cent. The 50-share CNX Nifty on the National Stock Exchange rose 13.5 points, or +0.22 per cent, to close at 6,020.95 today after choppy trade on buying in auto, IT and healthcare stocks ahead of the earnings season.

  • Brokers said investors turned cautious and parked their funds in less risky and fundamentally strong stocks ahead of the second-quarter earnings season, starting tomorrow with Infosys results. They said a firm trend in the Asian region and a higher opening in Europe amid signs US lawmakers will agree on a compromise deal to avoid an unprecedented default, fuelled the uptrend.

  • Signs of progress in US budget talks lifted the dollar today and helped European stocks edge off four-week lows, though gains were limited by expectations any solution to the stalemate would be temporary. In Asian trading, Tokyo's Nikkei share average advanced +0.9% to its highest in a week while shares elsewhere lost ground.

  • India's outward direct investment in September slowed to around $1.3 billion from $1.9 billion in August, according to data released by the Reserve Bank of India today. The rupee continued to trade weak in afternoon trade on dollar demand from importers ahead of the US debt payment deadline on October 17. At 15:45 pm, the rupee was quoting Rs 62.06 a dollar compared to its previous close of Rs 61.94 per dollar.

  • With the country in festive mood, shares of India's auto companies are adding up to the festivities. They have zoomed in the past one month, with some of the auto counters galloping by almost 50%. One of the best monsoons in over a decade period has also started showing its positive impact on our economy.

  • No other expert comments today.

NIFTY 3-Month

(Data/Charts courtesy NSEI/Yahoo!/iCharts/The Economic Times)